Emerging markets hedge fund firm Carrhae Capital has raised $125 million for a new long-only fund.
Financial News reported that the opening of the new fund, which will launch next month, was prompted by investor demand after the London-based firm “substantially” outperformed the emerging markets benchmark in the two years since its inception.
The long-only fund will have about 40 positions taken from Carrhae’s long book.
Carrhae was founded by former SAC Capital Advisors portfolio manager Ali Akay in 2011 with $150 million in seed capital from Blackstone Group. Carrhae currently manages approximately $695 million with the addition of the new fund.